A Type 1 Excludes Note Means

question 91

Multiple Choice

A type 1 Excludes note means :

• A) not otherwise specified.
• B) not included here.
• C) not elsewhere classified.
• D) not coded here.

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Definitions:

Fixed Cost

Expenses that do not change with the volume of production or business activity, such as rent, salaries, and insurance premiums.

Production Increases

A rise in the amount or level of output that a production system generates over a specific period.

High-low Method

A cost accounting technique used to estimate variable and fixed costs based on the highest and lowest levels of activity within a given period.

Variable Cost

Costs that vary directly with the level of production or sales volume. They include raw materials, labor directly involved in production, and sales commissions.